AUDCAD recently reversed up with the sharp Japanese candlestick reversal pattern Bullish Engulfing from the support area lying between the multi month support level 0.92650 (which also reversed the price in the middle of June) , lower daily Bollinger band and the 38.2% Fibonacci correction of the upward impulse C from the start of April. Given the clear daily uptrend and the strengthening bullish AUD sentiment seen across the currency markets today, AUDCAD is likely to rise further toward the next resistance level 0.95000 (former minor resistance from the start of October)
